How much to spend on Valentine’s Day

ROMANCE is in the air for many couples on Valentine's Day but some lovebirds have decided to do away with celebrating it.

Flowers, chocolates and fancy dinners are among the special ways to splash cash for loved ones but money-conscious duos say they will instead be conserving their cash.

Independent research compiled on behalf of Suncorp has revealed 49 per cent of couples in a relationship will avoid spending money on their lover this year, while those who do wish to do something special will spend an average of $127 on their other half.

Rising Tide Financial Services' managing director Chris Browne said for those planning to celebrate February 14 to watch their pennies and avoid going over the top.

Rising Tide Financial Services’ managing director Chris Browne said there’s no need to go overboard on how much you spend on Valentine’s Day.

"Don't spend more than you can afford regardless of how hot he or she is,'' he said.

"Love is earned not bought and spending up big early can create unrealistic expectations long term, I think a lot of blokes get caught out doing this."

Instead Mr Browne said some of the least-expensive gifts are the best and this could include creating a hamper with a bottle of bubbly and having a picnic in the park.

The research also revealed 51 per cent of men believe Valentine's Day is outdated while 37 per cent of women believe it's past its used by date.

Many couples can experience stress in their relationship if they have different attitudes towards money.

Suncorp's executive general manager Lynne Sutherland said paying for expenses such as special occasions like Valentine's Day should ideally be done using debit and not credit.

"Some people are very disciplined with credit cards and use the 55 days interest-free credit and make sure it's paid off so they are not paying off interest,'' she said.

"If they are using debit that's fine but plan for it so you know you have got it covered."

The research also found when it comes to splitting finances about 58 per cent of couples said they have a joint account and 46 per cent have separate accounts.

There's no denying that finance also causes immense stress on relationships, so it pays to have a good strategy in place to successfully manage your money together.